Make More Rain : alternative billing, firm culturehttp://www.lexisnexis.com/Community/redwoodanalytics/blogs/morepartnerincome/archive/tags/alternative+billing/firm+culture/default.aspxTags: alternative billing, firm cultureenCommunityServer 2008.5 SP1 (Debug Build: 31031.3054)Know Your Alternatives: Internal Ethicshttp://www.lexisnexis.com/Community/redwoodanalytics/blogs/morepartnerincome/archive/2009/12/16/know-your-alternatives-internal-ethics.aspxWed, 16 Dec 2009 18:49:00 GMT1da3c6c4-5c32-4eab-bddd-1928b9afe23e:40377RussHaskin0http://www.lexisnexis.com/Community/redwoodanalytics/blogs/morepartnerincome/rsscomments.aspx?PostID=40377http://www.lexisnexis.com/Community/redwoodanalytics/blogs/morepartnerincome/archive/2009/12/16/know-your-alternatives-internal-ethics.aspx#commentsAlthough this will indicate a piece of my style of humor, one of my favorite movies happens to be Billy Madison with the great Adam Sandler. Not to bore you with the details of the film, but if you are familiar with this piece of cinematic genius you...(<a href="http://www.lexisnexis.com/Community/redwoodanalytics/blogs/morepartnerincome/archive/2009/12/16/know-your-alternatives-internal-ethics.aspx">read more</a>)<img src="http://www.lexisnexis.com/Community/redwoodanalytics/aggbug.aspx?PostID=40377" width="1" height="1">Alternative BillingEthicsFirm Cultureblended ratesalternative fee arrangementsfixed feesKnow Your Alternativespartner compensationBillable Hour&#39;s Death has Been Greatly Exaggeratedhttp://www.lexisnexis.com/Community/redwoodanalytics/blogs/morepartnerincome/archive/2006/04/03/billable-hour-amp-39-s-death-has-been-greatly-exaggerated.aspxMon, 03 Apr 2006 17:42:51 GMT1da3c6c4-5c32-4eab-bddd-1928b9afe23e:11863Admin0http://www.lexisnexis.com/Community/redwoodanalytics/blogs/morepartnerincome/rsscomments.aspx?PostID=11863http://www.lexisnexis.com/Community/redwoodanalytics/blogs/morepartnerincome/archive/2006/04/03/billable-hour-amp-39-s-death-has-been-greatly-exaggerated.aspx#comments<p class="MsoNormal" style="margin:0in 0in 0pt;">Daniel Lee Jacobson, a practicing attorney and professor at Pacific West College of Law, writes a scholarly and surprisingly objective review of the history of the billable hour in April issue of the <span><em>California</em></span><span><em> Layer.</em> He notes that the billable hour may yet prove to be a transitory convention but objectively&nbsp;reports that the available statistics suggest it is not likely to disappear soon. </span><span><span>&nbsp;</span></span></p>
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<p class="MsoNormal" style="margin:0in 0in 0pt;"><span>Lawyers understand the income-limiting nature of the billable hour. They understand that removing this income-limiting governor on earnings capability means unlocking law firm revenues from the billable time of the owners and partners, either through contingency work, fixed fee agreements, or through the prevailing method of leverage off of others. So why is the billable hour so entrenched?&nbsp;</span></p>
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<p class="MsoNormal" style="margin:0in 0in 0pt;"><span>There are two important influences at work. First, <a href="http:///">law firms are doing pretty well</a> as is.<span>&nbsp; </span>Yes, they have greater potential, but things may just be good enough the way they are. <span>&nbsp;</span>Why risk a good thing for something that might or might not produce a better result? <u>Sometimes &ldquo;good&rdquo; is just good enough! </u></span></p>
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<p class="MsoNormal" style="margin:0in 0in 0pt;"><span>Second,&nbsp;t</span><span>here is no significant counterinfluence from the legal consumer.<span>&nbsp; </span>The Law Office Management &amp; Administration Report (LOMAR) for March noted that almost ninety percent of all fees are still based on hourly rates. Businesses have invested significantly in systems and procedures for tracking and managing the traditional hourly bill.<span>&nbsp; </span>The corporate world has too much invested sunk cost to move in a different direction at this time. </span></p>
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<p class="MsoNormal" style="margin:0in 0in 0pt;"><span>Not only are hourly rates still the prevailing norm, they are on the increase.<span>&nbsp; </span>An Am Law survey of managing partners found that firms have raised rates for 2006 by an average of six percent.<span>&nbsp; </span>According to LOMAR, midsized firms averaged a five percent increase nationally. </span></p>
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<p class="MsoNormal" style="margin:0in 0in 0pt;"><span>So while morepartnerincome.com is a proponent for taking advantage of every opportunity for fixed fee pricing at the matter and portfolio levels, you need not think you are out of synch if you depend on the billable hour in combination with leverage to drive the majority of your law firm revenues.<span>&nbsp; </span>The billable hour is well and quite healthy, thank you! <span>&nbsp;</span></span></p>
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<p class="MsoNormal" style="margin:0in 0in 0pt;"><span>PS: Just because things are doing pretty well, doesn&rsquo;t mean you shouldn&rsquo;t kick them up another notch.<span>&nbsp; </span>A copy of the Law Firm Business Survey results for the business year of 2005 will give you benchmark information to compare to your own results. The&nbsp;comparison will indicate areas to change for &ldquo;More Partner Income&rdquo;.<span>&nbsp; </span><a href="http://www.juris.net/JurisPublic/Surveys/MPISurvey/MPFSurvey.htm">Participate in the survey</a> today to receive your copy of survey results.</span></p>
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<p align="center"><i>Morepartnerincome.com is sponsored by Juris, Inc.<span>&nbsp; </span>For information about Juris&reg; products and services for increasing law firm performance and partner income, go to <span style="font-size:9pt;font-family:Arial;"><a href="http://www.juris.com/"><span>www.Juris.com</span></a></span><span style="font-size:9pt;font-family:Arial;">.</span></i></p><div style="clear:both;"></div><img src="http://www.lexisnexis.com/Community/redwoodanalytics/aggbug.aspx?PostID=11863" width="1" height="1">Alternative BillingBlogFirm CultureHRManagementproductivity